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HELENA – The department recently notified business owners with a business equipment reporting requirement, that it is time to report for Tax Year 2025. Individuals and businesses owning business equipment (as of Jan. 1, 2025) with an aggregate market value of more than $1 million statewide must report the equipment owned by March 1, 2025, to avoid a 20% penalty. Businesses whose statewide market value of equipment is $1 million or less are exempt from the business equipment tax. These businesses do not have a reporting requirement in 2025 u...
